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Filecoin (FIL/USD) price drifted downwards despite the upcoming launch of its virtual machine next week. FIL slumped to a low of $5.85, which is close to its January lows. It has pulled back by more than 38% from the highest level this year.
Our Filecoin price prediction is still bullish despite a massive pullback. Filecoin crypto is still maintaining its bullish market structure.
Filecoin [FIL], the decentralized storage system, registered a hike in revenue due to the participation of storage providers and users over the past year. The active involvement of these stakeholders implied that demand and supply both jumped across the board.
A large footprint in China, which creates skepticism about data safety, and a heavy subsidy spend, means Filecoin needs more than a token rally to be sustainable.
Stop! And listen up! Each month sees new opportunities in the crypto space.
The Filecoin price analysis is in favor of bears for today; the price has been decreasing for the past few days, and the trend line is downward as the bears have been successful in maintaining their lead. A downtrend has been observed today as well, as the price has come down to the $22.
Filecoin price analysis reveals a bearish trend in the market and that it is stuck in a consolidation phase around the $6.25 level. The intraday bias remains bearish as long as the price is trading below the $6.94 resistance level.
These five cryptos posted the most negative performance in the entire crypto market last week.
These three hot cryptos have already gone on impressive runs this year but could see their momentum continue for some time.
Recent Filecoin price analysis reveals the altcoin has been stuck in a bearish downtrend after opening the daily trading session at a high of $7.41. The price has since fallen to the $6.7 support level, signaling a possible reversal in bearish sentiment.
Filecoin's [FIL] market structure weakened at the end of February but started March positively. It fell from $9.5 to $6.5, a 32% plunge, but fronted an impressive recovery on 1 March.
Ranked 28th in CoinGecko's cryptocurrency list, Filecoin (FIL) has been benefitting from the recent flip in market sentiment. Today's market data shows that Ethereum, the market's top altcoin, is up 1% in the daily time frame.
Filecoin price analysis shows prospects of initiation of a bullish run, as price jumped up around 10 percent over the past 24 hours to move up to $7.2. After facing a bearish spell since February 21, price fell from a month-long high of $9.2 to settle down at the $6.8 mark.
Filecoin Price Prediction: Amid the February fourth-week correction, the Filecoin price lost 31% from the $9.45 peak and plunged to a local support of $6.5-$6.26. The daily candles showcasing lower price rejection and the confluence of 20-and-200-day EMA at the aforementioned support indicates a strong area of interest from where buyers may resume a bullish The post Filecoin Price Prediction: FIL Tumbled 30% Amid Market Correction; Is This Dip Worth Buying?
These five altcoins could have a positive performance in March due to various new developments.
The Filecoin (FIL) price could find short-term support and resume its rally.
Filecoin bears have yet to tire out as the coin hovers below its immediate price ceiling. In just a week's duration, FIL lost nearly 25% of its value.
With Bitcoin breaking $25,000 for the first time in six months, investors are looking for cryptos to buy in a pre-bullish market.
Filecoin price analysis reveals FIL cryptocurrency is trading inside a bearish wedge. The price of FIL has been unable to break resistance at $7.00, with the faintest attempts being swiftly rejected.
Filecoin [FIL] was one of the major losers in the past week. It depreciated by over 25% in the past seven days, according to CoinMarketCap.
Two Ethereum (ETH) rivals are skyrocketing this week, far outpacing both Bitcoin (BTC) and the crypto markets in general. Filecoin (FIL) and Conflux (CFX) have risen 93% and 45% respectively during the last seven days, continuing the defy crypto market trends.
The Filecoin price has performed remarkably over the last week. Over the last 24 hours, however, the Filecoin price was caught In the previous as it fell by 1%.
FIL, the ticker for the Filecoin cryptocurrency that powers Filecoin's decentralized storage blockchain protocol, has been taking a breather in recent days after enjoying spectacular gains earlier this month. FIL/USD was last changing hands around $7.75, now more than 18% down versus earlier monthly highs in the $9.50 area, though the cryptocurrency remains higher by close to 50% on the month.
According to CoinMarketCap, the cumulative crypto market capitalization surged by 1.24% over the past 24 hours. Its current value sits at $1.11 trillion.
